This is why having oil denominated in USD is so important. Only being able to buy oil with USD gives the USD value. As other currencies are used, the value of the USD will start to erode.Butcher Bob wrote:...because imaginary money doesn't have any actual value.
the petro dollar
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the petro dollar
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"That is why the 'kill the Fed' and gold folks want to return to a physical based system...because imaginary money doesn't have any actual value."
aside from creating more 'general welfare' than the agrarian world had seen in 10,000 year?
they could care less!
to a man all they want to do is destroy society
just when their isn't enough natural world to go around
that is feed everyone
they want what that will unleash
its the only fair world as far as their values are concerned...
aside from creating more 'general welfare' than the agrarian world had seen in 10,000 year?
they could care less!
to a man all they want to do is destroy society
just when their isn't enough natural world to go around
that is feed everyone
they want what that will unleash
its the only fair world as far as their values are concerned...
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the petro dollar
China has sold $3 billion of sovereign dollar bonds. This is only the third such move by Beijing in the last 14 years, and the first involving bonds with a 30-year maturity.
China sold $1.5 billion of five-year bonds at 3.25 percent, $1 billion of 10-year bonds at 3.5 percent, and $500 million of 30-year bonds at four percent, the Finance Ministry said on Friday, as quoted by Reuters.
China has made the sale at a time when yuan has depreciated 10 percent against the dollar amid an escalating trade war with the US. “For any other normal corporate borrower the decision might have been to stand on the sidelines and wait for the market to stabilize a bit, but China is a little bit of a different animal,” a banker who worked on the deal told Reuters.
Printing machine: US Treasury issuing more bonds to feed soaring debt but there are no takers
Beijing is the largest holder of US debt. As of July, China had $1.17 trillion invested in debt minted by the US Treasury.
https://www.rt.com/business/441146-us-t ... hina-sale/" onclick="window.open(this.href);return false;
China sold $1.5 billion of five-year bonds at 3.25 percent, $1 billion of 10-year bonds at 3.5 percent, and $500 million of 30-year bonds at four percent, the Finance Ministry said on Friday, as quoted by Reuters.
China has made the sale at a time when yuan has depreciated 10 percent against the dollar amid an escalating trade war with the US. “For any other normal corporate borrower the decision might have been to stand on the sidelines and wait for the market to stabilize a bit, but China is a little bit of a different animal,” a banker who worked on the deal told Reuters.
Printing machine: US Treasury issuing more bonds to feed soaring debt but there are no takers
Beijing is the largest holder of US debt. As of July, China had $1.17 trillion invested in debt minted by the US Treasury.
https://www.rt.com/business/441146-us-t ... hina-sale/" onclick="window.open(this.href);return false;
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the petro dollar
China traded interest bearing bonds denominated in USD for USD that bear no interest, thus depriving themselves of the interest income.
One for the rook
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One to rot
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One for the crow
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the petro dollar
it was an investment...
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the petro dollar
The Central Bank of Russia has continued getting rid of US Treasury bonds in August. The share of Russian investments in American debt is getting close to zero.
Russian investments in US securities as of August have fallen to just $14 billion. Back in 2011, Russia was one of the largest holders of US debt with a $180 billion investment.
The reason is not only about politics and US sanctions against Russia, a broker at Otkritie bank Timur Nigmatullin told RIA Novosti. The US Federal Reserve is hiking interest rates, which makes American bonds cheaper, he said. “Russia has almost dropped out of the list of holders of US government debt, being the 54th largest holder.”
“A further sale of US Treasury bonds by Russia will most likely be compensated by buying gold and opening short-term deposits at banks,” he said. The share of precious metals in the country's foreign reserves has reached a record 18 percent, closely approaching the share of dollar investments.
The largest investors in US debt, China and Japan, have also cut their holdings. Chinese holdings of US sovereign debt dropped to $1.165 trillion in August, from $1.171 trillion in July, marking the third consecutive month of declines. Japan has slashed its holdings of US securities to $1.029 trillion in August, the lowest since October 2011.
The reason for holding money in US bonds is global trade, which is still dominated by the dollar, director of macroeconomic analysis at Expert RA Anton Tabah told Izvestia daily. So, countries are forced to have a lot of dollars in cash, and US bonds are the best option for that.
India and Turkey have followed Russia's lead. Turkey has dropped out of the top-30 list of holders of American debt, while India has been liquidating its investment for five consecutive months to $140 billion in August.
https://www.rt.com/business/441615-russ ... s-us-debt/" onclick="window.open(this.href);return false;
Sanctions are forcing Russia to find alternative settlement currencies to the US dollar to ensure the security of the country's economy, according to President Vladimir Putin.
“We are moving to the de-dollarization of the economy. We are doing so not because we want to undermine the dollar, but because we want to ensure our security. We are constantly facing sanctions, they do not give us the opportunity to work in dollars,” Putin said on Thursday at the Valdai Discussion Club meeting in Sochi.
The alternative to the greenback could become a basket of national currencies, an instrument being developed by BRICS countries. “If such tools are invented, it will be possible to get away from the dollar. As soon as this happens, the dollar will have hard times,” Putin said.
The Russian president said that the US is forcing a number of countries to abandon the dollar in international payments. “This is a typical mistake of an empire. Our American friends are undermining confidence in the dollar as a single currency,” Putin said.
“European countries want to trade w
ith Iran. They do not believe that Tehran violated any conditions of the nuclear deal. Therefore something like an alternative to SWIFT international payment system is being invented,” the president said.
https://www.rt.com/business/441677-russ ... of-dollar/" onclick="window.open(this.href);return false;
Russian investments in US securities as of August have fallen to just $14 billion. Back in 2011, Russia was one of the largest holders of US debt with a $180 billion investment.
The reason is not only about politics and US sanctions against Russia, a broker at Otkritie bank Timur Nigmatullin told RIA Novosti. The US Federal Reserve is hiking interest rates, which makes American bonds cheaper, he said. “Russia has almost dropped out of the list of holders of US government debt, being the 54th largest holder.”
“A further sale of US Treasury bonds by Russia will most likely be compensated by buying gold and opening short-term deposits at banks,” he said. The share of precious metals in the country's foreign reserves has reached a record 18 percent, closely approaching the share of dollar investments.
The largest investors in US debt, China and Japan, have also cut their holdings. Chinese holdings of US sovereign debt dropped to $1.165 trillion in August, from $1.171 trillion in July, marking the third consecutive month of declines. Japan has slashed its holdings of US securities to $1.029 trillion in August, the lowest since October 2011.
The reason for holding money in US bonds is global trade, which is still dominated by the dollar, director of macroeconomic analysis at Expert RA Anton Tabah told Izvestia daily. So, countries are forced to have a lot of dollars in cash, and US bonds are the best option for that.
India and Turkey have followed Russia's lead. Turkey has dropped out of the top-30 list of holders of American debt, while India has been liquidating its investment for five consecutive months to $140 billion in August.
https://www.rt.com/business/441615-russ ... s-us-debt/" onclick="window.open(this.href);return false;
Sanctions are forcing Russia to find alternative settlement currencies to the US dollar to ensure the security of the country's economy, according to President Vladimir Putin.
“We are moving to the de-dollarization of the economy. We are doing so not because we want to undermine the dollar, but because we want to ensure our security. We are constantly facing sanctions, they do not give us the opportunity to work in dollars,” Putin said on Thursday at the Valdai Discussion Club meeting in Sochi.
The alternative to the greenback could become a basket of national currencies, an instrument being developed by BRICS countries. “If such tools are invented, it will be possible to get away from the dollar. As soon as this happens, the dollar will have hard times,” Putin said.
The Russian president said that the US is forcing a number of countries to abandon the dollar in international payments. “This is a typical mistake of an empire. Our American friends are undermining confidence in the dollar as a single currency,” Putin said.
“European countries want to trade w
ith Iran. They do not believe that Tehran violated any conditions of the nuclear deal. Therefore something like an alternative to SWIFT international payment system is being invented,” the president said.
https://www.rt.com/business/441677-russ ... of-dollar/" onclick="window.open(this.href);return false;
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the petro dollar
The Bank of England (BoE) is refusing to release around $550 million in gold owned by Venezuela back to the country over the UK regulator's claim of growing uncertainty about Caracas’s intentions for the 14 tons of gold bars.
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the petro dollar
What the fuk is going on with the oil market?
We have gas as low as $1.75/gallon in my state....most places are around $2.
That's a far cry from the $4+ we've seen before.
Good side is, fracking grinds to a halt when oil gets this low.
Bad side is.....something's going on.
We have gas as low as $1.75/gallon in my state....most places are around $2.
That's a far cry from the $4+ we've seen before.
Good side is, fracking grinds to a halt when oil gets this low.
Bad side is.....something's going on.